Cantor Fitzgerald has announced the launch in early July of GoldRock Asset Management, a new alternative investment management company formed out of Cantor's integration of Zenith Asset Management and headed by Zenith co-founder Mark Ostroff.

GoldRock will initially manage several global hedge fund-of-funds portfolios. Ostroff reports to Irvin Goldman, chief executive and president of Cantor Fitzgerald Asset Management, who says the portfolios are likely to be the first of many product offerings.

'We're excited that a professional with Mark's background, knowledge and commitment to excellence has joined Cantor to lead this effort,' Goldman says. 'I am confident that Mark and the team he is building, combined with Cantor Fitzgerald's culture, analytic expertise, and risk management tools, represent a tremendous combination of assets.'

Ostroff says: 'This is a compelling opportunity to join an entrepreneurial, dynamic and globally oriented organisation, one that boasts a legacy of excellence. Our goal is to carry on that tradition by building an international platform that identifies and invests in the best opportunities within the alternative investment universe. I believe that Cantor's reputation and reach will allow GoldRock to assemble a world-class portfolio of hedge fund managers.'

Once known primarily as a bond brokerage, Cantor Fitzgerald today offers institutional equity and fixed income sales and trading as well as investment banking, private equity, and asset management, as well as Cantor LifeMarkets, Cantor Gaming, Cantor Index, CantorCO2e, Cantor Entertainment, and other businesses and ventures.